At the end of 2012, the State Administration of Foreign Exchange ("SAFE") issued the Revised Foreign Exchange Rules for Securities Investment, clarifying account management for qualified foreign institutional investors ("QFII"). The new rules make several amendments to the previous 2009 SAFE rules, including increasing the types of RMB accounts available to QFIIs, relaxing restrictions on fund repatriation, and eliminating the maximum quota for sovereign wealth funds, central banks and currency administration authorities.